This planned giving option allows you to make a gift to the animals without it counting as taxable income.
A charitable individual retirement account (IRA) rollover is a wonderful option for people 70 ½ and older. That’s because it allows you to make a gift to the animals — from $100 to $100,000 — without the distribution counting as taxable income.
Also called a qualified charitable distribution (QCD), this option is a direct contribution made from your traditional or Roth IRA to a public charity like Animal Welfare League of Arlington, and it is a great option if you don’t normally itemize your charitable deductions.
Here are some key features of a qualified charitable distribution:
- You must be at least 70 ½ years old.
- You may transfer up to $100,000 per year directly from your traditional or Roth IRA to Best Friends or other qualified charitable organizations.
- Married couples can each gift up to $100,000 per year from their IRA if they each meet the requirements above.
- You may not receive any goods or services in return for your IRA rollover gift.
- New legislation effective in 2023 makes it possible to use qualified charitable distributions to fund life-income gifts like charitable gift annuities and charitable remainder trusts.
Legal name: Animal Welfare League of Arlington
Tax ID number: 54-0603502
Address: Attn: Director of Development, 2650 S. Arlington Mill Drive, Arlington, VA 22206
Please notify us when you request an IRA charitable rollover gift so that your gift can be matched to you when it arrives. It is helpful to let us know the financial institution that will be issuing the check and a contribution amount. Many financial institutions do not include the donor name on the check.
Consult with your tax adviser or other financial professional to determine whether an IRA charitable rollover could benefit you. In addition, please feel free to contact our Senior Director of Development, Kat Williams at (703) 931-9241, ext. 220 or kwilliams@awla.org.
